Boost your home’s value with best ROI electrical upgrades. Discover 5 improvements that deliver the best ROI for homeowners. When we think about remodeling, we consider countertops, floors, home extensions, and other types of renovations. But makeovers aren’t just limited to these features, and the right electrical upgrades can yield great returns on your investment.
If you have a makeover planned for your home anyway, this blog gives you a handful of electrical remodeling ideas like smart refrigerators and LED light installations that increase comfort, lower energy costs, and can skyrocket your home’s market value.
The Highest Returns On Your Investment With 5 Strategic Electrical Upgrades
Okay, so every homeowner wants to get the best service for their money’s worth. But what if you could get so much more? A licensed and experienced electrician can do a lot to boost the value of your home, and we have compiled a list of the top five must-haves of electrical upgrades that are sure to make you happy you read this article!
Read on to find out what electrical projects you should invest your hard-earned money in!
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Smart Home Devices Are A Smart Home Investment
If you’re planning on upgrading your kitchen, then switching out your old refrigerator with a smart one or a smart coffee-maker is a good idea. Imagine having your fridge prepare a grocery list when you’re out to shop or programming your coffeemaker to start brewing even before you’re out of bed. Similarly, you could also have your washer run before you get home so that your laundry is nice and ready for folding when you get home.
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EV Charger Installation: Attracting Environmentally Conscious Buyers
With how people are moving on from limited resources to more renewable energy, an EV charging station is a good idea for future buyers. A skilled electrical contractor can easily set one up in your garage, keeping your car running every day from the comfort of your home. Think of the hundreds of dollars you could save on fuel!
| Bonus TIP!
Select an electrician familiar with solar work to really make that EV charging station energy-efficient! |
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Outdoor Electrical Work For Outstanding Returns
Next, step outside for a minute. Well-placed lighting not only illuminates your yard but also showcases your landscape in the best light. Potential buyers are almost immediately drawn toward the gorgeous aesthetics, thus raising your property’s value. Also, consider adding outlets outside. This is quite helpful when undergoing repair work or plugging in chargers or electrical fans outside in your yard.
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LED Lights: Low Electricity Bills & High ROIs
Speaking of light fixtures, LED lights have a longer lifespan and offer more illumination than traditional fluorescent lights. A smart electrical upgrade would be to replace all your indoor lights with LEDs and to opt for LED lights for your landscape as well. Anyone shopping for their new house will automatically find this an attractive buying point, thus offering high returns on their investment.
| DID YOU KNOW?
Electrical upgrades often have a return of about 50% to over 100% when done correctly! |
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Panel & Wiring Upgrades For Code Compliance
Finally, yet another smart idea when it comes to maximizing returns on investment is updating any old or outdated wiring and electrical panels. As technology progresses, more and more appliances and devices are relying on electricity. As such, older panels and wiring from, let’s say, the 1970s are just not going to cut it anymore. A great investment with high returns is having all this equipment upgraded. It won’t just prevent fires, but will also mean that any interested parties won’t have to invest in wiring upgrades once they move in.
Measuring ROI In Electrical Work
By now, you might be thinking, “Well, that sounds great and all, but how do we calculate ROI anyway?” We’re glad you asked! When it comes to electrical upgrades, ROI is calculated by considering raised property value, improved standard of living, as well as the hundreds—if not thousands you’ll save on repair costs.
Conclusion
In conclusion, there are numerous electrical upgrades that can increase the value of your home. Adding from LED lights to EV charger installations, replacing old wiring to setting up smart home devices, the possibilities are endless. Remember, though, it isn’t just about resale value. All these modern electric solutions also enhance the comfort and energy efficiency of your home.
FAQs
Do I need a permit for my electrical upgrade?
Yes. You need to acquire the correct approvals from local authorities before the upgrades; otherwise, you could be fined heavily.
Can I perform the upgrades myself?
No, a licensed electrician who specializes in some of these services is the only one who can handle them correctly.
What are some other electrical upgrades with high ROI?
Installing ceiling fans, USB chargers, and motion-sensor lighting are some other great ideas that yield high returns.
